Roving Periscope: Russia ready to continue fuel shipment to India, says Putin
Virendra Pandit
New Delhi: Russian President Vladimir Putin on Friday said his country is ready for uninterrupted shipments of fuel to India, the media reported.
After the 23rd India-Russia Summit at Hyderabad House, he said “We resolved to prioritise our cooperation in areas of security, economy, trade and cultural spheres.”
“We are looking at increasing annual bilateral trade volume to USD 100 billion.”
President Putin said “India, Russia are gradually moving towards use of national currencies for bilateral payment settlements. We are looking at expanding cooperation in energy sector.”
“We could also talk about cooperation in construction of small modular nuclear reactors and floating nuclear power plants.”
Russia is also working with India to build new international logistics routes, he added.
He said that his State visit to India and the agreements signed during bilateral talks with Prime Minister Narendra Modi will further strengthen and deepen the Russia-India strategic partnership, as both sides reviewed their cooperation across a wide spectrum of sectors.
“We and PM Modi established a close working dialogue in September when we were at the SCO summit in Tianjin. We are personally overseeing special developments on strategic avenues and monitoring key bilateral projects,” the Russian President said.
Putin emphasised that the two delegations had examined the full breadth of bilateral ties, noting relevant issues on the multifaceted interaction that both nations need to address.
At their joint press conference, PM Modi said “India-Russia friendship has remained steadfast like a pole star over past eight decades.
“The India-Russia relations, rooted in mutual respect and deep trust, have always stood test of time. We discussed all areas of cooperation to further strengthen India-Russia ties.”
“Taking India-Russia economic partnership to new heights is our common priority. We agreed on India-Russia economic cooperation programme till 2030.”
Speaking during his bilateral engagement with Prime Minister Modi, the Russian President also emphasised the depth and longevity of India-Russia ties, noting that the partnership is built on substance rather than rhetoric.
“I could share a great deal of details of events that are taking place in Ukraine, and the actions we are taking are in partnership with the US on a possible peaceful settlement. Thank you for your attention and action in finding a solution for the situation,” he said.
Putin also appreciated PM Modi’s personal involvement in advancing bilateral cooperation, highlighting the level of trust between the two nations.
The Russian President outlined several sectors where India and Russia will deepen cooperation, identifying artificial intelligence, aircraft development, high technology, military-technical collaboration, and space exploration as key domains for future joint efforts.
In a joint statement, the two leaders reaffirmed their commitment to deepening economic engagement, expanding energy cooperation and strengthening security coordination.
Their talks centred on widening collaboration in trade, defence, connectivity, and counter-terrorism, with both sides underscoring the need to reinforce ties amid shifting global dynamics.
The meeting culminated in the unveiling of “Vision 2030,” a long-term roadmap aimed at boosting cooperation across critical sectors including energy, technology, defence manufacturing and labour mobility.
“To increase economic cooperation between India and Russia is our priority, and for this we have agreed on an economic cooperation program till 2030,” PM Modi noted.
Under the plan, New Delhi and Moscow committed to raising bilateral trade to USD 100 billion by 2030.
President Putin highlighted the steady growth in commercial engagement, saying, “Last year, our bilateral trade turnover has grown by 12 percent. This number may look different, but it is generally around USD 64 billion. We are up to the task of getting this number to the level of USD 100 billion.”
Putin also said Russia would pursue a free-trade agreement (FTA) between India and the Eurasian Economic Union, adding, “The Prime Minister gave us a whole list of challenges that deserve the most attentive focus of our government. We will do that. The growth of Russian-Indian commercial links would be helped by the creation of a free trade zone between India and the Eurasian Economic Union.”
“India and Russia are working towards the early conclusion of an FTA with the Eurasian Economic Union,” the PM added.
The Vision 2030 roadmap includes efforts to expand Indian exports in pharmaceuticals, agriculture and consumer goods, scale up co-production and co-innovation, and promote new connectivity avenues.
Putin noted the ongoing work on India’s biggest nuclear power project, saying, “We are also working on a project to build the largest Indian nuclear plant. Three out of six reactors have already been connected to the energy network.”
He highlighted progress on new connectivity links, stating, “We are working with our Indian partners to build new international transport routes, including the project to create North-South transport from Russia or Belarus to the Indian Ocean coast.”
Defence and high-technology cooperation remained a major pillar of the discussions. The leaders reviewed ongoing collaboration in military modernisation, space, shipbuilding and artificial intelligence, with Russia reiterating support for India’s manufacturing ambitions.
The two leaders delivered a strong message on counter-terrorism, with a special reference to the April 22 Pahalgam terror attack. PM Modi said that India and Russia stand “shoulder-to-shoulder” against the threat, referencing recent incidents in both countries.
